We always say location, location, location when it comes to businesses, restaurants, and even real estate. But it is so true when we're talking about certain landmarks around a particular neighborhood or property that could truly make or break a sale. Something that could be a great benefit to one buyer might be a huge detriment to another. And while you can't move the house itself to a new location, you can emphasize the positive and de-emphasize the negative. Here are some things that can really make or break a sale about your homes location.
You might think being next to a school is a great benefit, but only for some. If you live in a great school district, the school close by has great ratings and, and I really emphasize the and, your buyer has school age children, it can be a huge plus. However, if your buyers are retired, prefer a more quiet neighborhood or are uneasy driving, having children run to and fro throughout the neighborhood could be a detriment. Also, if it's not quite the best school district in the area, you might get potential homebuyers, shying away from your neighborhood.
From a strictly value standpoint, homes close to well performing schools can be a good decision for buyers regardless of their own family status. They might be considering resale value in the future or if they plan on starting a family within the next few years. The downside however all depends on the school, other parents in the neighborhood and what type of school. A college, for instance, will have a lot of college age students meandering through the neighborhood, which homeowners may or may not like. Also, living really close to the school could deter traffic. During drop off and pick up times, congestion can be a nightmare, and homebuyers simply don't want to deal with that if they need to leave for work or come home about the same time. Also, living too close to a school may mean that your hearing recess bells, children screaming and yelling or simply having a hard time to sell when the time comes. Living next to a school can have pros and cons, but it's best to figure these out for yourself, and what works for your situation.
Now, you might think the living next to a freeway has no benefit but actually, living close to major thoroughfares can be a great selling point as it helps many homeowners cut down on their daily commute. Suburbs the neighborhoods that live far for major freeways can add an additional 20 minutes or more to their drive time after they get off the freeway. You can promote the convenience of a home closer to the freeway as a great selling point.
Of course, the downside is that you're close to a freeway. Daily noise, congestion and pollution to living next to a freeway might be something that really bothers you. Living close but not too close might be the key.
You might not think that being secluded has any negative points and home surrounded by nature are some of the most rare and coveted but this is necessarily true. Homes that back up to nature, hiking trails or Greenbelt can be a great selling point for the right buyer. But some may feel that living in a quiet area might be just too quiet. They prefer a little more neighborhood camaraderie, the convenience and security of living in a neighborhood or subdivision and simply not living too far away for major or modern conveniences such as grocery stores, restaurants and markets.
The opposite of living too far out in the wilderness would be living too close to modern conveniences. There's something known as the "Starbucks Effect" which shows that homes closer to coffee shops, particularly Starbucks, increase homes exponentially. However, if people don't want to live that close to their neighborhood Starbucks, grocery store or café, it might actually deter them from buying the home. Of course, it all comes down to what the individual buyers looking for. Again, it's that close enough but not too close mentality. Even though living close to these modern conveniences can boost a homes value it all depends on the type of businesses. Tattoo parlors, check-cashing areas, cash advance or pawnshops is not the type of amenities you might want to live close to. A Trader Joe's, Starbucks, or nicer restaurants may allow for a little higher clientele, which may attract a particular buyer.
Again, wherever you are, there's not much you can do on your location but you can play up the advantages and downplays the disadvantages. If you're unsure of exactly how to do this with your real estate agent on ways to highlight the positive features of your home. If you'd like more information about selling your Sedona or Oak Creek home or property please contact us at any time. We'd be happy to offer some tips, suggestions and what your home could currently be worth.
Please contact us if you have any questions or comments.